Proponents that abandon analogue purchasing methods will have a competitive advantage, researchers said.
Amazon Business recently commissioned a report that found suppliers who adopt digital procurement found it easier to keep up with rivals.
“It is going to be increasingly difficult for organisations to remain competitive and agile if they continue to work in a nondigital model,” Deloitte global supply chain and network operations leader Jim Kilpatrick said according to Supply Chain Digital.
“Artificial intelligence can sort through those paper invoices. It can identify problems and automatically resolve them with no humans involved.”
The report, called Digital Optimisation Paves the Way to Strategic Supplier Management, also showed procurement employees who used digital tools had more time to focus on “all-important” exceptions that sometimes cause problems for business.
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Contract awarded for mining infrastructure project.